Momo Inc (MOMO) Shares Up 5.3%
Momo Inc (NASDAQ:MOMO)’s share price shot up 5.3% during trading on Wednesday . The stock traded as high as $9.86 and last traded at $9.86, with a volume of 539,875 shares. The stock had previously closed at $9.36.
Several research firms recently commented on MOMO. Zacks Investment Research cut Momo from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. TheStreet raised Momo from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th.
The stock has a market capitalization of $2.01 billion and a PE ratio of 188.50. The stock has a 50 day moving average of $11.66 and a 200 day moving average of $12.87.
Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, May 17th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. On average, equities research analysts forecast that Momo Inc will post $0.25 EPS for the current year.
An institutional investor recently raised its position in Momo stock. Morgan Stanley increased its position in Momo Inc (NASDAQ:MOMO) by 33.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,425,728 shares of the company’s stock after buying an additional 603,103 shares during the period. Morgan Stanley owned 1.38% of Momo worth $38,859,000 as of its most recent filing with the SEC.
Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company enables users to establish social relationships based on location and interests. Its platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners.
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